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Exam (elaborations)

KY Real Estate Exam Study Guide Solutions

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KY Real Estate Exam Study Guide Solutions Accretion - ANSWER-Increase of land by deposit of sand or soil washed up naturally from a river, lake or sea ADA Tenant - ANSWER-Tenant with disability. Must accommodate for tenants/residents with disabilities. Priority is to get party to the door. Can ...

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  • November 4, 2024
  • 11
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Real Estate
  • Real Estate
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KaylinHoffman
Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024




KY Real Estate Exam Study Guide Solutions


Accretion - ANSWER✔✔-Increase of land by deposit of sand or soil washed up naturally from a river, lake

or sea


ADA Tenant - ANSWER✔✔-Tenant with disability. Must accommodate for tenants/residents with

disabilities. Priority is to get party to the door. Can make changes, must be giving parking if available, do

not have to ask to make changes


Broker's License - ANSWER✔✔-License to act as intermediary on behalf of others for a commission.

Bringing together of parties interested in making a real estate transaction.


Bilateral Contract - ANSWER✔✔-All parties are legally bound to to act as prescribed


Unilateral Contract - ANSWER✔✔-One party is bound to contract or act


Brownfields - ANSWER✔✔-Defunct, derelict, or abandoned commercial or industrial sites, many have

toxic wastes


Condemnation - ANSWER✔✔-Proceeding to exercise the power of eminent domain


Commingling - ANSWER✔✔-Illegal act of placing client or customer funds with personal funds.


Commission Earned - ANSWER✔✔-payment to a broker service for sale or purchase of a property;

usually a percentage




Copyright ©Stuvia International BV 2010-2024 Page 1/11

, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024


Cooperative - ANSWER✔✔-Residential multi-unit building whose title is held by a trust or corporation

that is owned and operated for the people living within the building who are the beneficial owners of the

trust or shareholders of the corporation.


Commission Split - ANSWER✔✔-Commission earned from selling a property is split between licensee

and principal broker


Civil Rights Act of 1866 - ANSWER✔✔-An act that prohibits racial discrimination in the sale and rental of

housing


Customer - ANSWER✔✔-The third party nonrepresented consumer for who some level of service is

provided


Client - ANSWER✔✔-The principal


Dual Agency - ANSWER✔✔-Representing both parties for a transaction. Unethical unless both parties

agree to it


Dower and Curtsy - ANSWER✔✔-Dower: Wife acquires property her husband held or acquired during

marriage if he dies.


Curtsy: A life estate given to surviving husband in real estate owned by his deceased wife


Deed IN Trust - ANSWER✔✔-Grants a trustee under a land trust full of power to sell, mortgage, and

subdivide a parcel of real estate. The beneficiary controls the trustees use of these powers.


Trust Deed; Deed OF Trust - ANSWER✔✔-Used to create a mortgage lein by which the borrower conveys

title to a trustee (third party) who holds it as security for the benefit of the note holder (lender)


Delivery & Acceptance - ANSWER✔✔-Title is delivered by grantor and accepted by grantee


Copyright ©Stuvia International BV 2010-2024 Page 2/11

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